By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Formes US President Donald Trump Is Indicted in New York
    Trump indicted in hush-money payment case
    March 31, 2023
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    UAE President appoints Khaled bin Mohamed bin Zayed as Crown Prince of Abu Dhabi
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Local-currency bank deposits increase EGP 88.589bn in September: CBE
Share
Notification
Latest News
Formes US President Donald Trump Is Indicted in New York
Trump indicted in hush-money payment case
Politics
Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Egypt. Germany discuss promotion of cooperation in communications, digital transformation
Egypt, Germany discuss promotion of cooperation in communications, digital transformation
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Local-currency bank deposits increase EGP 88.589bn in September: CBE
Business

Local-currency bank deposits increase EGP 88.589bn in September: CBE

Hossam Mounir
Last updated: 2020/11/01 at 7:32 PM
By Hossam Mounir 3 Min Read
Share
Charitable foundations in Egypt are seeing a higher demand in charitable donations in the first days of Ramadan (Photo from Al-Borsa News)
SHARE

The volume of local currency deposits at banks operating in the Egyptian market jumped during September by EGP 88.589bn, according to the Central Bank of Egypt (CBE). It said that the local currency deposits reached about EGP 3.502trn in September, up from about EGP 3.413trn in August 2020.

In a recent report, the CBE stated that demand deposits in local currency amounted to about EGP 523.515bn in September, compared to EGP 507.804bn in August, an increase of EGP 15.711bn.

The value of time deposits and savings certificates in local currency at banks increased by EGP 72.878bn to about EGP 2.978trn during September, compared to about EGP 2.905trn in August.

According to the CBE, the public sector’s share of demand deposits amounted to about EGP 34.1bn, compared to EGP 288.815bn for the private sector, and about EGP 200.827bn for the household sector.

The public sector’s share amounted to about EGP 31.196bn from time deposits and savings certificates, compared to about EGP 163.503bn for the private sector, and about EGP 2.783trn for the household sector.

In the same context, the CBE revealed an EGP 11.498bn decline in the volume of foreign-currency bank deposits in the local market during September 2020. As a result, it reached EGP 644.505bn, down from about EGP 656.003bn in August 2020.

The CBE said that demand deposits in foreign currencies amounted to about EGP 134.27bn in September, compared to about EGP 138.599bn in August, a decrease of EGP 4.329bn.

The volume of time deposits and savings certificates in foreign currencies with banks also decreased by about EGP 7.169bn to about EGP 510.235bn during September, compared to about EGP 517.404bn in August 2020.

It explained that the public sector’s share of demand deposits in foreign currencies amounted to nearly EGP 5.247bn, compared to about EGP 78.254bn for the private sector, and about EGP 50.782bn for the household sector.

The public sector’s share amounted to about EGP 25.341bn in foreign-currency time deposits and savings certificates, compared to about EGP 83.367bn for the private sector, and about EGP 401.527bn for the household sector.

You Might Also Like

Egypt’s IDA gears up to provide its services for investors online 

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Volatile trading on EGX amid anticipation of interest rate movement

Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt

TAGGED: bank, CBE, currency, deposits
Share this Article
Facebook Twitter Email Print
Previous Article Under the title of “Endeavoring New Possibilities”, Sandoz Egypt has announced a specialised programme for the exchange of scientific expertise among local and international thought leaders in the organ transplantation field. Sandoz Egypt launches 1st joint programme on organ transplantation
Next Article Central Bank of Egypt CBE Daily News Egypt Net foreign assets of Egypt’s banking sector up EGP 51.958bn in September
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Formes US President Donald Trump Is Indicted in New York
Trump indicted in hush-money payment case
Politics
Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?